Advertisers sue Facebook
According to a report in The Wall Street Journal, a lawsuit filed by some advertisers claims that Facebook lied about its video metrics.
Sue Facebook for lying? You might as well sue fish for swimming.
According to The Journal, “Facebook told some advertisers that it likely overestimated average time spent watching videos by 60% to 80%. The plaintiffs alleged…that the error was much larger and that the average viewership metrics had been inflated by some 150% to 900%.”
The lawsuit also alleges that Facebook knew its numbers were crooked for over a year before it disclosed them.
Eighty-five newsletters ago, when Facebook’s bogus metrics started to become headlines, I wrote…”I predict Facebook will not just continue to stonewall but will actually make it harder for advertisers to get at their real numbers. Why? Because they’re hiding stuff and they will fight to the death rather than give it up. Remember, you read it here first.”
So basically when it comes to Facebook, they never reveal anything unpleasant unless they absolutely have to. When caught, their first statement is never accurate.
While some clowns were suing Facebook, other clowns were blaming Facebook.
In 2017, news media management declared their rebirth strategy: “Pivot To Video.”
What did it mean? It meant replacing online print/text reporting with short video clips. In practical terms it meant firing journalists and hiring kids with video cameras. It was a disaster.
It wasn’t just a disaster for the media, hundreds of trained reporters and editors who lost their jobs.
A Harvard report then said that the media big wigs were blaming Facebook’s phony video metrics for the whole pivot to video fiasco.
Once again, the “pivot to video” demonstrates that there is no bigger sucker than a gullible marketer convinced he’s missing a trend.
The New York Times agrees as well. In an editorial piece entitled “Hey Facebook, Do Your Own Work” the Times lamented on the fact that it was the news media’s job to filter all the nonsense that is messing up Facebook and other social media platforms.
The Times said that Facebook and its pals in the black hole of social media “have all the tools at their disposal and a profound responsibility to find exactly what journalists find and yet they don’t.
The top it all off Facebook irked the public even more when its new lobbyist-in-chief, UK former deputy prime minister Nick Clegg said that “The company is on a journey which brings new responsibilities …I hope I will be able to play a role in helping to navigate that journey.”
All this journeying business is irritating enough to say the least, Facebook isn’t on any journey, it’s making millions to wash dirty laundry.
Nominate Malaysia’s Best Marketers
Do you know a Bold & Brave marketer? Give us their names, because we want to celebrate them.
Held for the first time in Malaysia, the Chief Marketing Officer (CMO) Awards is here to reward the best in the business of marketing.
This award is to identify talent, transparency, tenacity and a take-charge attitude of deserving marketers. An eminent panel of industry leaders will decide on the winners.
There are 30 categories up for grabs at this year’s awards:
- Best Marketer in B2B Marketing
- Best Marketer in SME Marketing
- Best Marketer in Millennial Marketing
- Best Marketer in Data & Technology Marketing
- Rising Marketing Star – Financial Services
- Rising Marketing Star – Telco ….. and more!
All entries across all 30 categories for the inaugural year is FREE.
Send in your nominations before the closing deadline of October 26th.
The 7th Malaysian CMO Conference & Awards
Date: 16th November 2018
Venue: The Grand Ballroom, Sime Darby Convention Centre, KL.
For further details on the awards visit: www.marketingmagazine.com.my/cmo2018/awards